JSC “Latvijas Gāze”: Unaudited financial results of Latvijas Gāze group for the first half of 2021
Colder temperature during heating season and significantly higher natural gas prices were the two main factors, which influenced the JSC “Latvijas Gāze” performance in first half of 2021. Colder temperature increased JSC “Latvijas Gāze” sales and utilization of JSC “Gaso” distribution network. At the same time price rally in natural gas environment, on the back of economic recovery, posed a challenge during first half of 2021 and will continue to pose a challenge for the remaining part of the year.
The Group’s net turnover in the first half of 2021 was 154.3 million EUR, EBITDA* amounted to 13.0 million EUR and net profit was 5.4 million EUR.
During first half of 2021, JSC “Latvijas Gāze” sold 7 437 GWh of natural gas to customers in Latvia and abroad. Compared to the same period in 2020, sales volumes have increased by 38%. Sales volumes to foreign counterparties accounted for 37% of the total sales volumes.
Latvijas Gāze group will publish its unaudited consolidated financial statements for the third quarter of 2021 on November 24, 2021.
*More detailed information on the alternative performance measures can be found on page 10 of the financial statements.
Vice President Finance
Phone: + (371) 67 369 139